How MakeStickers started maximizing the value of its cash with a Ramp Business Account

MakeStickers’s legacy spend management system was complex and fragmented. “We had an operating bank account at a brick and mortar bank down the street, then another operating bank account with First Internet Bank, and a money market account with First Internet,” says Mike Rizzo, MakeStickers Accounting Manager. The company had credit cards at four different credit card issuers, and its tech stack included separate systems for accounts payable, reporting, bill pay in small amounts, and bill pay in large transactions. Managing cash reserves, several financial systems and ensuring timely vendor payments  was time-intensive and extremely frustrating. “We spent 8-10 hours per week just tracking things down,” says Mike. 

Paying bills was a multi-step, largely manual process that necessitated adding the bill in MakeStickers’s accounting system, navigating to the bank website, initiating payment, approving payment, then entering the payment information  back to the accounting system.  “The approval process through our banks’ website was okay at best,, we’d have to manually enter the payment details  into our accounting system after approval, because that didn’t bring over any of the transaction data,” Mike says.

Though MakeStickers partnered with multiple traditional banks, they weren’t earning anything on their cash. “One thing we suffered from was growing our reserve cash,” says Mike. “The brick and mortar account didn’t pay any interest, and we definitely lost out because of the manual work involved in moving money.” 

MakeStickers needed a solution that could consolidate and simplify spend management while maximizing the value of its operating cash.

“As we grow, our cash grows, and it would be foolish to park large sums in a 0% interest account,” says Mike. The MakeStickers team was interested in partnering with Ramp, both to simplify and consolidate their unwieldy spend management systems and to earn more on their operating cash. “It’s great to be able to maximize earnings on our operating cash, and also maximizing float by  paying  bills from that same account,” says Mike. 

MakeStickers created a Ramp Business Account, which allows the company to earn more from their cash while minimizing time spent on cash management. MakeStickers now earns 2.5% on every dollar, has access to unlimited and free same-day ACH, and can make same-day transfers and payments. This gives Mike and his team peace of mind that vendors will be paid in a timely and efficient way while ensuring their sizable stores of cash are earning a return.

For MakeStickers, consolidating everything -- corporate cards, bill pay, reimbursements, and cash management -- on Ramp’s single central platform has been beneficial. “Ramp’s support has been great,” says Mike. “Having a rep that you can go to with any issues has helped Ramp gain our trust. Every feature you guys have rolled out has been robust but simple, and I feel like the user interface and experience is all the same.”

Consolidating has been a huge time-saver for the company, which has allowed Mike to focus on more significant strategic priorities. “It allows me to spend more time on financial projects and less on the day-to-day,” says Mike. “It also gives me peace of mind knowing  that the internal controls within Ramp have my back, and our bills are getting paid.”

With Ramp Treasury, MakeStickers has free access to ~3 days of working capital by paying the bills the day they’re due, and the company no longer needs to worry about the vast sums of cash that weren’t earning anything with their traditional banking partner. “It’s a great tool to safeguard assets, as well as very competitive cashback and savings rates,” says Mike. “It definitely helps you sleep at night.”